The House Ways & Means Committee holds the first in a series of tax reform hearings today at 9:00 a.m.:
The hearing will examine the economic and administrative burdens imposed by the current structure of the Federal income tax. It will explore the cost of complexity borne by American families, the cost of a corporate tax system that is increasingly out-of-step with the rest of the world, and the broader cost to the U.S. economy of a tax system that fails to maximize job creation and impedes economic growth.
Here are the witnesses scheduled to testify (with links to their testimony):
- Nina E. Olson (National Taxpayer Advocate)
- Robert A. McDonald (Chairman of the Board, President & CEO, Procter & Gamble; Chairman, Fiscal Policy Initiative of the Business Roundtable)
- Warren S. Hudak (President, Hudak & Co., New Cumberland, PA)
- Kevin A. Hassett (Director of Economic Policy Studies, American Enterprise Institute)
- Martin A. Sullivan (Contributing Editor, Tax Analysts)
In connection with the hearing, the Joint Committee on Taxation has released Present Law and Historical Overview of the Federal Tax System (JCX-1-11):
This document … provides a summary of the Federal tax system, briefly describes its historical development over the period of time beginning in 1975, and provides an appendix of selected historical data on Federal tax rates, Federal tax receipts, components of adjusted gross income, and other features of the Federal tax system.
Update: Press coverage of the hearing:
5 responses to “House Holds Tax Reform Hearing Today”
Ways and Means opens tax reform hearings today
The House Ways and Means Committee kicks off tax reform hearings this morning, reports the TaxProf. Taxpayer Advocate Nina Olson,…
Ways and Means opens tax reform hearings today
The House Ways and Means Committee kicks off tax reform hearings this morning, reports the TaxProf. Taxpayer Advocate Nina Olson,…
Ways and Means opens tax reform hearings today
The House Ways and Means Committee kicks off tax reform hearings this morning, reports the TaxProf. Taxpayer Advocate Nina Olson,…
Ways and Means opens tax reform hearings today
The House Ways and Means Committee kicks off tax reform hearings this morning, reports the TaxProf. Taxpayer Advocate Nina Olson,…
Ways and Means opens tax reform hearings today
The House Ways and Means Committee kicks off tax reform hearings this morning, reports the TaxProf. Taxpayer Advocate Nina Olson,…
Ways and Means opens tax reform hearings today
The House Ways and Means Committee kicks off tax reform hearings this morning, reports the TaxProf. Taxpayer Advocate Nina Olson,…
Ways and Means opens tax reform hearings today
The House Ways and Means Committee kicks off tax reform hearings this morning, reports the TaxProf. Taxpayer Advocate Nina Olson,…
Ways and Means opens tax reform hearings today
The House Ways and Means Committee kicks off tax reform hearings this morning, reports the TaxProf. Taxpayer Advocate Nina Olson,…
Ways and Means opens tax reform hearings today
The House Ways and Means Committee kicks off tax reform hearings this morning, reports the TaxProf. Taxpayer Advocate Nina Olson,…
We know what is going to happen with Tax Reform
1. A senior, influential Member of Congress will castigate the Tax Code for being complex and unfair. He or she will call for Tax Reform and announces an intention to introduce a bill that has a simpler, fairer system with a broader base.
2. The Member will be saluted by left and right for being a visionary, a courageous leader and a very serious person. Talk will begin about a place on the national ticket.
3. The Member will introduce a revenue neutral bill that is less complex, fairer and has a broader base.
4. After analysis, commentators will point out that even though the proposal is revenue neutral, taxes will be higher for certain income groups.
5. Democrats soon realize that the term “broaden the base” means increasing taxes on low and middle income taxpayers, and will denounce the bill as harming the poor and giving tax breaks to the rich and say they will not support it. Republicans soon realize that even revenue neutral legislation will raise some group’s taxes and will denounce the bill for raising taxes and say they will not support any legislation that raises taxes on anyone.
6. The Member will be called an unrealistic, politically naïve, ignorant, insensitive legislator who is out of touch with the American people. He or she will struggle for re-nomination and re-election.
7. Tax reform will be dead until another senior influential Member of Congress raises the issue. The events of 1-7 will then repeat themselves.
We know how the movie ends. Shouldn’t we just go to some other issues that have a realistic chance of becoming law?
Sid, there you go again with those negative waves. Did you happen to notice the only person even close to the IRS is N. Olson and her most recent creative #1 idea is for the IRS to change it Mission Statement. DUH !!!
Please take your negative waves and try surfing, you might have better luck.
As for how the movie ends, it cannot be any worse then “The Harry and Nancy Show.”